Observability startup Coralogix becomes a unicorn, eyes India expansion

CoralogixAn Israeli startup that offers a full-stack perceptibility and security platform has collected $ 115 million in a pre-money appreciation of more than $ 1 billion, almost doubled in three years from the last round in 2022.

With the influx of cash, the startup wants to expand its technical basis in India and develop its AI agent.

The all-equity and all-Primary Series E-round is led by the Daring Growth Company NewView Capital, which is located in California, with the participation of the Canada Pension Plan Investment Board and NexTequity, the Venture company founded by former Apple-Executives Avie Tevanian and Fred.

Data -perception is nowadays increasingly important as more companies store and use data to take advantage of the benefits of AI. However, not everyone in a company has the time or resources to thoroughly investigate a problem or to make an important decision based on their data flow. Coralogix wants to solve this challenge with its AI observability agent, Olly.

The agent uses a semantic layer with internal data, including metadata, together with external sources, such as information available on the internet, to help companies understand complex problems, such as identifying the causes of slow service or solving the most common system errors, by using simple text prompts.

Trained to answer broader questions than just what goes wrong, the AI ​​agent can help customers if they want to know which function customers cause the most frustration, how much these customers pay, or who their account representative can work with them, said Coralogix co-founder and CEO Ariel Assaraf in an interview.

Olly includes functions such as anomalo detection, access monitoring and real -time reports to automate data generalization for customers. It has been developed by Coralogix’s AI Research Center, which now wants to expand it through its new capital.

In addition to his AI agent, Coralogix offers perceptibility and guardrails to AI companies and offers insight into the performance of their models, as well as the quality, safety and governance of their answers. All this was due to the acquisition of Aphoria in December 2024.

“There is an opportunity for us, given our architecture of analyzing streamquery of external, lower costs. We are going to invest a lot and build the AI ​​Research Center larger,” said Assaraf.

The startup is planning to use the technical basis of India for its AI ambitions, aimed at investing around $ 100 million in the country in the next five years. The investment is planned to expand its office in Gurugram and to hire more staff in Bengaluru and Mumbai to build engineering, R&D and customer success teams.

Of his general workforce of nearly 550 employees, Coralogix has around 250 people in Israel and 100 in India. It is planning to double the Indian employee base over the next three years.

“Because we just see a really good fit between the Israeli engineering culture and the Indian engineering culture, it is a Get-it-Done, very independent, very dedicated to the mission type Engineering where we see a very good fit to expand,” Assaraf told WAN.

The South Asian market is also the second largest market of the startup in terms of turnover and user base, with more than 100 customers, after the US, the director said.

Indian companies such as Postman, Jupiter Money, Mesho, Bookmyshow, Bharatpe, Coindcx and Razorpay are among Coralogix customers. It also serves banks and companies and wants to tap the Indian government as his next major customer. Moreover, the startup looks at the acquisition of Indian startups to expand its footprint in the country.

“We talked about the potential M&A with quite a few Indian companies, but nothing is really fulfilled. It can be a very good and easy way for us to get a strong core team when we think of expanding our engineering,” Assaraf told WAN.

In June 2022, Coralogix collected $ 142 million in a series D-round led by Advent International and Brighton Park Capital. Since then, Assaraf said that the startup has seen 7x growth in its income, although it is not yet profitable.

The Startup, which DataDog regards his most important competitor, wants to submit an American IPO on Nasdaq in three years.

“Our goal is that we build this new way of building architecture, analyze streamquery of external, this new way of customer involvement, these new geographies in which we have now invested, also this new AI experience, how to control AI and how you use AI to check,” said Assaraf. After it can show progress on these fronts, it will explore an IPO, he added.

The final round also saw participation of the existing investors of Coralogix, including Advent International, Brighton Park Capital, Revaia, Greenfield Partners, Red Dot Capital Partners, OG Tech, Joule Capital Partners and Maor Investments.